The instant asset write-off for 2023–24 lets eligible small businesses (turnover under $10m) immediately deduct assets costing under $20,000 each.
It applies to new or second‑hand business assets first used or installed between 1 July 2023 and 30 June 2024, and the threshold is per asset—so yes, multiple sub‑$20k purchases can qualify.
Spend more than $20k on a single item and it dives into the small business depreciation pool instead of getting the instant free pass.
Cars can qualify, but the luxury car limit still caps deductions, so don’t expect the ATO to bankroll your six‑figure autobahn fantasy.
All figures are in AUD, and eligibility rules and exclusions apply—check the ATO or your tax adviser before you mash the buy button.
In short: handy cash‑flow relief, not a golden ticket.
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